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Biden launches tariff peace with Europe, benefits to Italian manufacturers

New York – The peace between the United States and Europe is broken, beginning with a definite feature: Fees. The phone call between Joe Biden and Ursula van der Lein marks the beginning of the solution. The two agreed to suspend for four months all mutual obligations related to the Airbus-Boeing document.

The consequences are also applicable to Made in Italy: Goldiretti’s estimate that the agreement would eliminate tariffs on imports of Italian cheese into the United States worth half a billion euros a year. This deal, especially Biden’s intentions, should be a foretaste of things to come. According to the White House, a new chapter should be opened in the name of rebuilding a strong Atlantic alliance to control China.

This is a clear strategic change for Trump’s presidency, which has put everyone on the same level in his trade attacks, attacking allies and a strategic rival like China with charges. But the dissolution with Europe begins with a document that has nothing to do with Trump. The Airbus-Boeing dispute is very old, dating back to 2004 when George W. Bush was in the White House.

Europeans and Americans have accused each other of aiding their aeronautical giants with public subsidies. The World Trade Organization (WTO) International Trade Tribunal has proven both right and wrong. As a result, both Washington and Brussels felt the right to unleash retaliation, and these were attacked in the form of charges on a wide range of non-aircraft products. In total, the United States imported $ 7.5 billion a year from Europe, with the EU responding with tariffs on $ 4 billion worth of manufactured goods.

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Suspension for only four months should not be misled. The White House report states what the goal is: “In light of our common values ​​and the largest trade and investment relationship in the world, leaders have agreed to work to stop tariffs and resolve it. Conflict in the World Trade Organization”.

So you have to serve four months to find a firm contract. It will be requested at the multilateral headquarters of the World Trade Organization, an organization that has been ousted from the presidency by Trump. The suspension marks the beginning of a new chapter, under the banner of Atlantic Reconciliation and Respect for Diversity. It should be noted, however, that the relationship with Brussels is not exclusive. A similar deal with Boris Johnson’s government (including a partner in the Airbus consortium) was announced 24 hours ago in honor of the old priority relationship with London.

The olive branch that Biden offered to the Europeans was expected, which was not a completely free gesture. Katherine Toy, the new White House representative for foreign trade, announced at the time of her appointment that she wanted immediate peace with Europeans. He added that the Biden administration wanted to agree with the Europeans on a common strategy – from trade to investment, on many fronts, to curb Chinese expansion. There is no shortage of resistance on this land in Brussels, Berlin and other capitals.